Ardmore Shipping (ASC) Scheduled to Post Earnings on Wednesday

Ardmore Shipping (NYSE:ASC) is set to post its quarterly earnings results before the market opens on Wednesday, July 31st. Analysts expect Ardmore Shipping to post earnings of ($0.09) per share for the quarter.

Ardmore Shipping (NYSE:ASC) last posted its earnings results on Wednesday, May 1st. The shipping company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.02. The company had revenue of $62.30 million for the quarter, compared to analyst estimates of $33.04 million. Ardmore Shipping had a negative net margin of 21.14% and a negative return on equity of 8.92%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period last year, the business posted ($0.16) earnings per share. On average, analysts expect Ardmore Shipping to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

ASC traded down $0.15 during mid-day trading on Thursday, hitting $7.54. The stock had a trading volume of 8,272 shares, compared to its average volume of 248,156. The business’s fifty day simple moving average is $7.49. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.56 and a quick ratio of 1.37. The firm has a market cap of $251.87 million, a price-to-earnings ratio of -7.28 and a beta of 1.19. Ardmore Shipping has a 1-year low of $4.22 and a 1-year high of $8.77.

A number of equities research analysts recently commented on the stock. Zacks Investment Research lowered shares of Eisai from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Pareto Securities upgraded shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Morgan Stanley raised their price objective on shares of Zynga and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $8.68.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.

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Earnings History for Ardmore Shipping (NYSE:ASC)

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